The Reorganization Law in Poland

• Author: Rafal Adamus
• Position: Professor, Ph.D., Faculty of Law, Opole University, Poland
• Pages: 101-120

Abstract: The

aim of this p

reorganization law. This is a

Bankruptcy and Reorganizati

the main sou rce of law in th

Chapter 11 of the Bankrup

reorganization proceedings i

that the l

egislative experime

Reorganization Law is a v

proceedings seriously differ f

Keywords:

reorganization pr

1. Introduction



Bankruptcy in Poland s

insolvent (art. 10 b.r.l.)

is determined likely th

satisfied to a higher d

bankruptcy proceeding

bankru

ptcy with the p

declared by the bankru

declaring bankruptcy w

court shall declare bank

1

Professor, Ph.D., Faculty

+4021.330.86.06. Correspon

2

See also (Kruczalak-

Jank

Merczyski & Trocki,

2011,

The Reorganization Law in Po



Rafał ADAMUS

1

is paper is to present general remarks of the legal structure

s a

completely new institution in Poland. The Act of 28 Febru

zation Law

(J.L. No 60, item 535 as amended)

, the articles 492

the

commented matter. The idea of the Polish regulation d e

r

ruptcy Code of the United States. The statistics of the

s in Poland are not very impressive. In this respect some cri

ment

called “reorganiza

tion proceedings” is unsuccessful. Nev

very important figure in the Polish commercial law. Re

er from bankruptcy proceedings

proceedings;

entrepreneur, bankruptcy

d shall be declared with respect to a debtor who h

.l.)

(Kowalewski & Kwasnicki, 2007, p. 1136).

2

As

that under an bankruptcy arrangement the credito

degree than they would have been satisfied as

ings comprising the liquidation of the debto

possibility to make an bankruptcy arrangemen

kruptcy court (art. 14 b.r.l.). But if there are no g

with the possibility to make an arrangement the

nk

ruptcy by liquidation of the debtor’s assets (art. 1

lty of Law, Op ole Universi

ty, Poland

, Phone: +4021.330

onding author: radamus@uni.opole.pl

.

ankowska,

2007, p. 6; Petraniuk, 2003, p. 17;

Pannert,

1,

p. 99. AUDJ, Vol

. 8, no. 1

JURIDICA

101

Poland





re of the Polish

bruary 2003 the

92

- 521 b.r.l. is

rives from th e

e usage o f the

critics maintain

Nevertheless the

Reorganization

o has become

As a rule if it

ditors will be

as a result of

btor’s assets,

ent shall be

o grounds for

e bankruptcy

t. 15 b.r.l.).

330.88.64; Fax:

t,

2004, p. 16;

. 1

, pp. 101-120

ACTA UNIVERSITATIS DANUBIUS Vol. 8, no. 1/2012

102

Spiritus movens of reorganization proceedings is the entrepreneur. The

entrepreneur decides whether to start reorganization proceedings. The position of

the bankruptcy court in the proceedings is reduced to minimum. The bankruptcy

court has authorization in the matter of the opening of the reorganization

proceedings, appointing a court supervisor, approval of the arrangement

(settlement), revocation of the arrangement. The entrepreneur prepares by himself

the reorganization plan, restructuring proposals for the arrangement with creditors,

the list of claims. The reorganization arrangement should be adopted in a very short

period of time (three or four months) and if the entrepreneur fails to make the

arrangement in the prescribed period of time the proceedings shall be discontinued

by virtue of law. The Reorganization Law provides moratorium for the payment of

the entrepreneur’s debts.

It should be clearly explained that the Act contains both material and procedural

(formal) rules. The regulation of the Reorganization Law is not complex. Within

the scope not regulated in the provisions of the Reorganization Law proper rules of

the Bankruptcy Law shall apply accordingly to the reorganization proceedings.

There is a couple of references to the Bankruptcy Law (for example art. 493 b.r.l.).

In some matters the Bankruptcy Law contains a reference to the Code of Civil

Proceedings.

Council Regulation (EC) No 1346/2000 of 29 May 2000 on insolvency

proceedings shall apply to collective insolvency proceedings which entail the

partial or total divestment of a debtor and the appointment of a liquidator (art. 1

sec. 1 reg. 1346/2000) (Zedler et al., 2011).

1

For the purposes of the Regulation No

1346/2000 ‘insolvency proceedings’ shall mean the collective proceedings referred

to in Article 1 sec.1. These proceedings are listed in Annex A and ‘liquidator’ shall

mean any person or body whose function is to administer or liquidate assets of

which the debtor has been divested or to supervise the administrations of his

affairs. Those persons and bodies are listed in Annex C. The reorganization

proceedings (“postpowanie naprawcze”) are not listed in Annex A. (Adamus,

2009, p. 76) Because of a couple of reasons it is a mistake. Similar proceedings, for

example company voluntary arrangement, are listed in Annex A.

1

See also: (Klyta, 2008; Szydlo, 2009; Chilarski, 2009; Armatowska, 2011; Hrycaj, 2011; Jakubecki,

2005; Glicz, 2003; Gurgul, 2009; Grzejszczak & Chilarski, 2004; Adamus, 2004)